need some Help with my Homework. thank you for the help!

X Requirements 1. Journalize any required entries. 2. At what amount should the company report merchandise inventory on the balance sheet? 3. At what amount should the company report cost of goods sold on the income statement? 4. Which accounting principle or concept is most relevant to this situation? Print Done Some of G and Electronics merchandise is quitering dust. It is now December 31, 2004, and the current replacement cost of the ending merchandise eventory s 520.000 between cool te good to be any adjustments at the end of the period, the company's cost of Goods Sold rccount has a balance of $300,000 Read the Requirement 1. Journalize any required entries. Record debts firit, then credits Select the explanation on the last fine of the journal artytti. For aluations that do not own ryme nursery Fiorente fint out in the Accounts com and leave all other collie blank.) The required journal entry would be Date Accounts and Explanation Debi Credin Dec 31 Requirement 2. At what amount should the company report merchandise inventory on the balance ? and Ashould report merchandise inventory on the balance sheet at Requirement. At what amou should the company report cost of goods sold on the income Moment? O and Ashould report cost of goods sold on the income statement at Requirement 4. Which accounting principle or concept is most relevant to the ston is the reason to count for merchandisinventory